29 April 2021 

Cryptocurrencies benefits

Bitcoin was born in 2009, opening the door to investment opportunities for a new asset class-cryptocurrency. Many people saw the Cryptocurrencies benefits and entered space early.

The huge potential of these emerging but promising assets attracted them, and they bought cryptocurrencies at a bargain price. Therefore, in the 2017 bull market, they became millionaires/billionaires. Even those who don't invest much can make considerable profits.

After three years, cryptocurrencies will remain profitable and the market will remain unchanged. You may already be an investor/dealer or are considering trying your luck. In both cases, it makes sense to understand the benefits of investing in cryptocurrencies.

Cryptocurrency has a bright future

According to a report entitled “Imagine 2030” released by Deutsche Bank, credit and debit cards will become obsolete. Smartphones and other electronic devices will replace them.

Cryptocurrency will no longer be seen as extraordinary, but as a substitute for the existing currency system. Their benefits, such as security, speed, lowest transaction fees, ease of storage, and relevance in the digital age, will be recognized.

Specific regulatory guidelines will popularize cryptocurrency and promote the adoption of cryptocurrency. The report predicts that there will be 200 million cryptocurrency wallet users by 2030 and nearly 350 million by 2035.

Opportunity to be part of a growing community

WazirX's #IndiaWantsCrypto campaign has recently completed 600 days. It has become a large-scale movement to support the adoption of cryptocurrency and blockchain in India.

Similarly, the recent decision of the Supreme Court lifted the Reserve Bank of India's crypto banking ban from 2018, which has injected new confidence between Indian Bitcoin and cryptocurrency investors.

The 2020 “Edelman Trust Barometer” report also pointed out that people's confidence in cryptocurrency and blockchain technology is increasing day by day. According to the survey results, 73% of Indians trust cryptocurrency and blockchain technology. 60% said that the impact of cryptocurrency/blockchain will be positive.

By becoming a cryptocurrency investor, you will become part of a thriving and rapidly growing community.

Potential profit increase

Diversification is an essential investment rule of thumb. Especially during this period, most assets suffered severe losses due to the economic difficulties caused by the COVID-19 pandemic.

Since the beginning of the year, the investment in Bitcoin has achieved a return of 26%, while gold has achieved a return of 16%. The return on investment of many other cryptocurrencies has reached triple digits. As we all know, the stock market is underperforming. As we all know, crude oil prices plummeted below zero in April.

The cryptocurrency market is always open

It never sleeps or has weekend. Contrary to the usual market, the cryptocurrency market operates uninterrupted 24 hours a day. This is because the digital currency system is essentially designed using software code segments protected by a password.

The operational blueprint does not involve human interference. Therefore, you can freely trade cryptocurrency or invest in digital assets at any time. This is a great benefit! In this way, the cryptocurrency market is very effective.

For example, since its inception in 2009, Bitcoin has successfully processed 99.98% of uptime transactions.

No paperwork or form required

You can invest in Bitcoin or any other cryptocurrency anytime, anywhere without any unnecessary terms and conditions.

Unlike traditional investment options, traditional investment options require a large number of documents to prove that they are “qualified investors”, while crypto investments are free for everyone. In fact, this is the expected goal behind the creation of cryptocurrency. Democratization of finance/money.

Sole investment

When you buy Bitcoin or any other cryptocurrency, you will become the sole owner of that particular digital asset. Transactions are conducted in a peer-to-peer manner.

Unlike bonds, mutual funds, and stockbrokers, no third party can “manage your investment” for you. You can buy and sell at any time.

User autonomy is the biggest benefit of the cryptocurrency system. It provides incredible opportunities to invest in principal and establish entities “independently”.

These are some of the benefits of investing in cryptocurrencies. We hope you find them useful and convincing enough to start your cryptocurrency investment journey.

By Malik D

Article source: http://EzineArticles.com/10323568


About the author
I am a financial advisor for a large international company. I studied economics and journalism.
Place comment

Also visit our Gold Investing Knowledge Bank

More information on Gold Investing and Precious Metals in general.

arrow_drop_up arrow_drop_down